2020 Year End Appeal
As you give to Cornerstone Pregnancy Services as we approach the end of the year, be mindful that you may be eligible to take advantage of special tax benefits!
For the 2020 tax year only, you may deduct cash contributions to Cornerstone Pregnancy Services to offset up to 100% of your income for your itemized deductions. If you do not itemize your deductions, you can still reduce your taxable income by up to $300 for contributions of cash to the ministry. Ordinarily, the income tax charitable deduction for cash gifts is limited to 60% of your income. This 100% limit for 2020 allows our faithful donors to reduce their 2020 federal income tax to zero. If you desire to give a larger contribution before year end, you can carry forward unused cash contribution deductions for up to five years. Check with your financial advisors or tax consultants to determine whether the 100% deduction makes sense for your specific benevolence objectives.